Iowa Payday Loan Laws and Regulations in (IA)

(last updated 01/02/2018)
Payday loans and cash advances are legal in Iowa.
The Iowa Division of Banking Finance Bureau has been
regulating Payday Loans and Cash Advances since 2006.
As of 01/12/2015 there were
35 licensed lenders
and 193 licensed
locations in Iowa.

The maximum payday loan allowed in Iowa is $500.
The maximum payday loan as a percentage of income is not specified.
The number of loans that can be open at one time is 2.
The maximum permissible fees allowed in Iowa is $15 on first $0-$100 on face of check and $10 per $100 thereafter. The finance charge for a 14 day $100 loan is $16.67 which is 433% APR.
The cooling off or waiting period for obtaining another loan is 0 days.
The number of rollovers that are permitted is none (cannot repay, refinance or consolidate).
The minimum loan term is not specified. The maximum loan term is 31 days.

This information is for informational purposes only.
Although care has been taken to accurately describe the
laws and regulations in Iowa, no
guarantees are implied or expressed about its
accuracy. This is not legal advice. If you need legal advice,
please consult an attorney or the Iowa Division of Banking Finance Bureau.

The following classes of lending organizations may be exempt from some, all, or none of the regulations and laws set by the state of Iowa. Federally chartered banks, state chartered banks, credit unions and some entities organized under the laws of a sovereign nation (for Example) a Native American Tribe or the country of Antigua.

Online approval to $5,000
For bad and so-so credit
Credit Score: less than 680
Funds in 1-72 business hours
Flexible terms of 2 to 36 months
APRs of 12.00 to 450.00%

Let’s face it—life can throw you some wicked curve balls sometimes, and you might find yourself in need of some quick cash here in the Hawkeye State. That’s not always such an easy thing to find when you have bad credit. Whether you live near Dyersville’s Field of Dreams, or in Cherokee, or Shenandoah—anywhere in that great rolling country between the Mississippi and Missouri rivers known as Iowa—a payday loan can be just the thing to get you back in the game when the bases are loaded and it’s the bottom of the ninth.

Your car got towed off the street in Fort Dodge, and now you’re on the phone to every tow yard in town trying to track it down. But you’re also wondering how you’re going to pay to get it out of the clink in time to get to work in Bloomfield next week. Where are you going to get that kind of cash, and pronto?

Or maybe you’re actually sitting in your car in downtown Cedar Rapids, ready to drive away, but your transmission thinks otherwise. Where can you turn for the cash to get it fixed? A payday loan is what you need to get back on the road.

Then there are those times when it seems like the rains of misfortune will never end. Sometimes literally, like when an ocean of rain pours onto your leaking roof in Atlantic (and you’ve run out of buckets to catch it in). Or when a leaky pipe in your basement in Ottumwa led to a mold problem, and it’s not just the ick factor that’s bugging you, but the cost of getting it properly cleaned. What can you do now, besides hold your nose and write the check?

But if you don’t want to be moving in with your in-laws in their “cozy” two-bedroom, one-bath house in Hampton, you better find a way to get this paid for. You’ve got a regular job so a payday loan might be just the thing.

And there goes the nice police officer, driving away after giving you a big fat traffic ticket, courtesy of the city of Des Moines. The truth is you’ve already got a good-sized pile of these sitting unpaid at home. You better pay them soon or your license is getting suspended—and then how will you visit your new romance out in Waterloo?

At a time like this, a payday loan can help keep you from striking out. We know how hard it can be to find the right help in a time of crisis, which is why We Give Loans offers unique access to a network of 3,558 payday loan sources. We provide great options for nearly anyone- even people with poor credit or no credit.

Our short, secure form is at the heart of our consumer-to-lender pairing process and allows us to help you find the right source for a payday loan or cash advance- at no cost or obligation. Since 2006, we’ve helped over two million people hit a home run with the right loans from the right sources. We make it easy – just complete our anonymous pairing form right here on our website, telling us a little bit about your needs. We’ll pair you with the right payday loan sources from our network and show you what we’ve found. Select a source, complete your loan application with them, and if approved, the cash you need could be in your hands in 1 to 24 business hours!

Wherever you are in the great state of Iowa, and whatever your story, We Give Loans is here to help!